Castor Maritime Inc. Announces Deliveries of the M/V Magic Orion and the M/V Magic Argo

Limassol, Cyprus - March 19, 2021

Castor Maritime Inc. (NASDAQ: CTRM), (“Castor”, or the “Company”), a diversified global shipping company, announces that on March 17, 2021, it took delivery of the M/V Magic Orion, a 2006 Japanese-built Capesize dry bulk carrier, and on March 18, 2021, it took delivery of the M/V Magic Argo, a 2009 Japanese-built Kamsarmax dry bulk carrier, pursuant to the transactions previously announced on January 20 and February 3, 2021, respectively.

Both acquisitions were financed in their entirety with cash on hand.

The M/V Magic Orion is expected to commence employment under a time charter contract on or around March 20, 2021, at a daily gross charter rate of $21,000 and an expected term of about 35 days.

The M/V Magic Argo is expected to commence employment under a time charter contract on or around March 21, 2021, at a daily gross charter rate of $25,100 and an expected term of about four months.

About Castor Maritime Inc.
Castor Maritime Inc. is an international provider of shipping transportation services through its ownership of oceangoing cargo vessels.

On a fully delivered basis, Castor will have a fleet of 14 vessels, with an aggregate capacity of 1.3 million dwt, consisting of 1 Capesize, 5 Kamsarmax and 6 Panamax dry bulk vessels and 2 Aframax LR2 tankers. Where we refer to information on a “fully delivered basis”, we are referring to such information after giving effect to the successful consummation of our recent vessel acquisitions.

For more information, please visit the Company’s website at www.castormaritime.com.

Castor Maritime press release